shemmes Wrote:
Jul 24, 2012 2:23 PM
Julie: In my accounting class in college, here is an article you need to hear about: "The Seven Trillion Dollar Mistake." Re: GAO; Senator Charles Grassley (R-Iowa) said in 1998 after embezzlements at U.S. installations were allowed to occur because of weakness in the Pentagon's accounting system. A year later, precision was still lacking at the Department of Defense. Pentagon money managers required almost $7 Trillion dollars of accounting adjustments and represents an accountant's correction of the discrepency.: Julie Malone, "Auditors cite failings in 11 out of 24 agencies," Atlanta Constitution, March 31,2000. John M,. Donnelly, "Pentagon's Finances Just don't Add up." Los Angeles Times, March 5, 2000, Ralph Vartabedian LA times